The Ray White Group have increased their property sales for the month of September 2013 by 7% on last year’s September result. However the sales are down by 5% on August 2013 results.
The recent introduction of the LVR changes put into place by the Reserve Bank has seen sales in the area of new home buyers and investors taper off and this is expected to continue while there is a realignment of borrowing capacity in this sector. Continued low levels of stock are seeing prices marginally increase, particularly in the areas of Auckland and Christchurch. Overall there was an increase of controlled stock by 4% on the same time last year with total property listings secured being 1,813. Auctions continue to dominate controlled listings with over 500 being completed by the company in September.
Carey Smith, Chief Executive of Ray White New Zealand said “The sales for September have completed an outstanding sales quarter for Ray White. The quarter from July to September 2013 has been the highest level of turnover since early 2007. The Ray White Group’s continued focus on skills and the high level of marketing are attributed to the increase in sales as well as the welcoming of 12 new offices so far this year.”
Ray White Remuera was the top office for the company, completing their highest ever quarter for sales with just over $95 million in sales. Ray White City Apartments were the number two office with 77 sales completed for the month. Ray White Ponsonby were the number three office trading close to $20 million in sales. Other offices to complete outstanding results included Ray White Ellerslie at number four and Ray White Full Circle in Christchurch at number five.
The Northland zone continues to show year-on-year increase with the growth of Ray White now having 13 offices throughout the region. The top business was Ray White Whangarei. In Auckland other offices to conclude strong results outside of the top five national businesses included Ray White Royal Oak, Ray White Glen Eden and Ray White Half Moon Bay. The top businesses in the Central North Island included Ray White Hamilton, Ray White Te Awamutu and Ray White Tauranga. Ray White Wanganui in the Lower North Island was the leading office for that zone. The Upper South Island saw another outstanding sales month from Ray White Richmond. In Canterbury the Ray White Group continues to increase market share and the top three businesses in this zone were represented by Ray White Full Circle, Ray White Metro and Ray White Next Step. Ray White Dunedin was the top business in the Lower South Island. Ray White Oamaru completed a personal best month and Ray White Wanaka also achieved a high level of sales.
The Ray White Group has confirmed two new offices that will be opening during the month of October including Millwater on the Hibiscus Coast and Takanini in South Auckland.